Short Interest in Comcast Co. (NASDAQ:CMCSA) Drops By 7.4%

Comcast Co. (NASDAQ:CMCSAGet Rating) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 73,600,000 shares, a decline of 7.4% from the October 15th total of 79,500,000 shares. Currently, 1.7% of the company’s shares are short sold. Based on an average daily trading volume, of 27,310,000 shares, the short-interest ratio is currently 2.7 days.

Comcast Stock Performance

Shares of CMCSA stock opened at $33.98 on Thursday. The stock has a market capitalization of $146.91 billion, a P/E ratio of 29.55, a PEG ratio of 0.72 and a beta of 0.99. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.18. The firm’s 50 day moving average is $31.77 and its 200 day moving average is $37.15. Comcast has a 12 month low of $28.39 and a 12 month high of $53.79.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Wednesday, January 4th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Tuesday, January 3rd. Comcast’s dividend payout ratio is presently 93.91%.

Analyst Ratings Changes

CMCSA has been the topic of several research reports. TheStreet lowered shares of Comcast from a “b-” rating to a “c+” rating in a report on Friday, July 29th. Macquarie lowered shares of Comcast from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $40.00 to $33.00 in a report on Friday, July 29th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Comcast from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, October 18th. Atlantic Securities lowered shares of Comcast from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $60.00 to $44.00 in a report on Monday, August 15th. Finally, Credit Suisse Group lowered their target price on shares of Comcast from $57.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, September 27th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.46.

Institutional Trading of Comcast

Institutional investors and hedge funds have recently bought and sold shares of the company. Financial Gravity Asset Management Inc. raised its position in shares of Comcast by 1,476.6% during the 2nd quarter. Financial Gravity Asset Management Inc. now owns 741 shares of the cable giant’s stock valued at $4,347,000 after buying an additional 694 shares in the last quarter. Albion Financial Group UT raised its position in shares of Comcast by 550.0% during the 1st quarter. Albion Financial Group UT now owns 1,027 shares of the cable giant’s stock valued at $48,000 after buying an additional 869 shares in the last quarter. Parkside Investments LLC purchased a new stake in shares of Comcast during the 1st quarter valued at $48,000. Hardy Reed LLC purchased a new stake in shares of Comcast during the 1st quarter valued at $50,000. Finally, Mach 1 Financial Group LLC purchased a new stake in shares of Comcast during the 3rd quarter valued at $31,000. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

About Comcast

(Get Rating)

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.

Featured Articles

Receive News & Ratings for Comcast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast and related companies with MarketBeat.com's FREE daily email newsletter.